Hemp-Based CBD Products Industry Fastest Growing Market With Over 50% CAGR

Wednesday, October 25, 2017 General News
Email Print This Page Comment bookmark
Font : A-A+

MarketNewsUpdates.com News Commentary

PALM BEACH, Florida, October 25, 2017 /PRNewswire/ --

CBD products

have proven themselves to be much more multi-functional compared to other legal marijuana applications as hemp-based CBD products and solutions are rapidly on the rise. Hemp sales reached $688 million last year, according
to the Hemp Business Journal, growing at a 22% compound annual growth rate over the past five years. While personal care products hold the greatest share of the market, hemp-based cannabidiol (CBD) represents the fastest growing subset of the industry with a 53% compound annual growth rate. Active companies this week in the industry include: CNRP Mining Inc. (OTC: CRPGF) (CSE: CND), Canopy Growth Corporation (OTC: TWMJF) (TSX: WEED), Aurora Cannabis Inc. (OTC: ACBFF) (TSX: ACB), Medical Marijuana Company of America (OTC: MCOA), Medical Marijuana Inc. (OTC: MJNA).

CNRP Mining Inc. (OTCQB: CRPGF) (CSE: CND.CN) is pleased to announce that further to its press releases of July 21, 2017 and August 22, 2017 it has entered into a share exchange agreement dated October 24, 2017 (the "Definitive Agreement") to acquire all of the issued and outstanding shares of 1127466 B.C. Ltd. which holds, through a wholly owned subsidiary, a world-wide, exclusive license for X-SPRAYS - a brand of state-of-the-art life-enhancement products administered via an optimal oral spray delivery system (the "Transaction"). Pursuant to the terms of the Definitive Agreement, the Company will, upon closing of the Transaction, issue to X-SPRAYS shareholders an aggregate of 16,500,000 common shares in the capital of the Company (the "Payment Shares") at a deemed price of CAD$0.30 per Payment Share. Additionally, up to 28,000,000 CNRP shares will be issuable upon certain commercial milestones being achieved by X-SPRAYS (the "Performance Shares"). The Payment Shares and the Performance Shares will be subject to escrow conditions and/or resale restrictions as required by applicable securities laws and the policies of the Canadian Securities Exchange (the "CSE").

Read this and more news for CRPGF and its X-Sprays products at http://www.marketnewsupdates.com/news/crpgf.html

About X-SPRAYS - X-SPRAYS is comprised of dedicated scientists and product engineers who are passionate about health and creating the ultimate delivery system for optimal nutrition. The company has focused its efforts in creating a product line of oral sprays to deliver medicines, nutrients and vitamins. To date, X-SPRAYS has developed a novel line of 8 health care and life enhancement nutraceutical products focused on enhancing pain relief, awareness, sleep, libido, energy and recovery. The Company's product line is ready for commercialization with 8 novel sprays that include both hemp cannabidiol (CBD) and nutraceutical ingredients (4 with CBD and 4 nutraceutical). X-SPRAYS intends to expand its product line to include cannabis Tetrahydrocannabinol (THC) and CBD sprays. In other industry development and happens around the market:

Canopy Growth Corporation (OTC: TWMJF) (TSX: WEED.TO) News: Announced this week, Tweed Inc., wholly owned subsidiary of Canopy Growth Corp., and DNA Holding LLC have renewed and expanded their partnership through to October, 2022. Together they are committed to bringing the best possible cannabis to Canada. Tweed and DNA's collaboration sees DNA's world-renowned cannabis genetics exclusively grown and sold in Canada by Tweed. "Tweed is going strong with DNA and we're excited to keep the momentum going into the adult-use market," said Mark Zekulin, president, Canopy Growth. "The success we've had together will only build once we can introduce the quality, care and precision of the DNA Certified product line to recreational consumers."

Aurora Cannabis Inc. (OTCQX: ACBFF) (TSX: ACB.TO) and Radient Technologies Inc. ("Radient") (RTI.V) (collectively "the Corporations"), this week announced that further to the companies' joint press release of June 5, 2017 , both parties have agreed to a 17-day extension, through November 6, 2017 , on the 140-day term under which Aurora was granted certain exclusive rights to negotiate with Radient in respect to the acquisition of certain exclusive rights to use Radient's technology and processes, as further set out in the original memorandum of understanding, dated December 13, 2016. Good progress has been made towards finalizing the agreement, and both parties have agreed that the inclusion in the negotiations of certain additional items warrants an extension to the original 140-day term.

Medical Marijuana Company of America (OTC: MCOA) closed up 1.75% on Tuesday trading over 6.3 million by the market close. This month Medical Marijuana Company of America, an innovative hemp and cannabis corporation, and Global Hemp Group, announced that they have jointly entered into a letter of intent with Space Cowboys, Inc. ("Space Cowboys") for the purposes of forming a joint venture (the "Joint Venture"). Space Cowboys is an existing fully licensed and compliant hemp-derived cannabinoid producer in Colorado. Space Cowboys is in its fourth year of operation and is in full compliance with Colorado state law and the Colorado Department of Agriculture. The business consists of both indoor and outdoor cultivation of highly concentrated CBD hemp on properties located in Longmont and Loveland, Colorado. Space Cowboys' current hemp crops will be harvested in the latter part of October and prepared for extraction of the high-value cannabinoids.

Medical Marijuana Inc. (OTC: MJNA) on Tuesday announced subsidiary HempMeds® Brazil has gained media attention in Brazilian newspapers after a Federal judge there ordered the government to subsidize payments for Real Scientific Hemp Oil™ (RSHO™) for a Brazilian citizen. According to the article, the Federal Regional Court of the 4th Region (TRF4) ordered the Union and the state of Santa Catarina to subsidize payments for RSHO™ for a Florianópolis merchant. The article states that: "The trader appealed to the court, arguing that the use of the drug is essential, that efficacy is proven in such cases and that the right to health is fundamental and guaranteed by the Constitution. The court's rapporteur, federal judge Rogerio Favreto, stated in his vote that the interference of the judiciary in drug applications, even if it is an exception, should occur if the patient's need is proven. The judge pointed out that in the case under analysis the urgency is evident and has been proven by medical expertise."

DISCLAIMER: MarketNewsUpdates.com (MNU) is a third party publisher and news dissemination service provider, which disseminates electronic information through multiple online media channels. MNU is NOT affiliated in any manner with any company mentioned herein. MNU and its affiliated companies are a news dissemination solutions provider and are NOT a registered broker/dealer/analyst/adviser, holds no investment licenses and may NOT sell, offer to sell or offer to buy any security.  MNU's market updates, news alerts and corporate profiles are NOT a solicitation or recommendation to buy, sell or hold securities. The material in this release is intended to be strictly informational and is NEVER to be construed or interpreted as research material. All readers are strongly urged to perform research and due diligence on their own and consult a licensed financial professional before considering any level of investing in stocks. All material included herein is republished content and details which were previously disseminated by the companies mentioned in this release. MNU is not liable for any investment decisions by its readers or subscribers. Investors are cautioned that they may lose all or a portion of their investment when investing in stocks. For current services performed MNU has been compensated twenty-three hundred dollars for news coverage of the current press release issued by CNRP Mining Inc. by a non-affiliated third party. MNU HOLDS NO SHARES OF ANY COMPANY NAMED IN THIS RELEASE.

This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "may", "future", "plan" or "planned", "will" or "should", "expected," "anticipates", "draft", "eventually" or "projected". You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company's annual report on Form 10-K or 10-KSB and other filings made by such company with the Securities and Exchange Commission. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and MNU undertakes no obligation to update such statements.

Contact Information: Media Contact email: info@marketnewsupdates.com +1-561-325-8757

SOURCE MarketNewsUpdates.com

Post your Comments

Comments should be on the topic and should not be abusive. The editorial team reserves the right to review and moderate the comments posted on the site.
* Your comment can be maximum of 2500 characters
I agree to the terms and conditions

News A - Z


News Search

Medindia Newsletters

Subscribe to our Free Newsletters!

Terms & Conditions and Privacy Policy.

Find a Doctor

Press Release Category

Press Release Archive

Stay Connected

  • Available on the Android Market
  • Available on the App Store